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How does this look?
USDA guaranteed
Purchase price: 161,900
Loan Amoutn: 165,204
Interest rate: 4.5% - we are 90 days out from closing. Its a new build
Appraisal - 500.00
Credit Report - 14.00
Processing - 150.00
Tax Cert - 87.00
Underwriting - 700.00
Wire Transfer- 30.00
Flood Cert - 8.50
Settlement - 425.00
Title Search - 250.00
Lenders title insurance - 572.00
Owners title insurance - 100.00
Recording - 35.00
MERS Registration - 11.95
Imaging fee - 17.95
USDA Guar Fee - 3,304.00
Lender Rebate - (2,890.00)
Your scores?
@beanie7132 wrote:How does this look?
USDA guaranteed
Purchase price: 161,900
Loan Amoutn: 165,204
Interest rate: 4.5% - we are 90 days out from closing. Its a new build
Appraisal - 500.00
Credit Report - 14.00
Processing - 150.00
Tax Cert - 87.00
Underwriting - 700.00
Wire Transfer- 30.00
Flood Cert - 8.50
Settlement - 425.00
Title Search - 250.00
Lenders title insurance - 572.00
Owners title insurance - 100.00
Recording - 35.00
MERS Registration - 11.95
Imaging fee - 17.95
USDA Guar Fee - 3,304.00
Lender Rebate - (2,890.00)
What about prepaid interest, bank attorney, buyer's attorney (I assume the attorneys are still required for new build?), state transfer taxes (not sure what applies to new build in your state), 1 year homeowner's insurance, escrows, recording charges, survey if required.
My closing costs in NY on $250k purchase were some-odd $19,000....
@Peter1142 wrote:
@beanie7132 wrote:How does this look?
USDA guaranteed
Purchase price: 161,900
Loan Amoutn: 165,204
Interest rate: 4.5% - we are 90 days out from closing. Its a new build
Appraisal - 500.00
Credit Report - 14.00
Processing - 150.00
Tax Cert - 87.00
Underwriting - 700.00
Wire Transfer- 30.00
Flood Cert - 8.50
Settlement - 425.00
Title Search - 250.00
Lenders title insurance - 572.00
Owners title insurance - 100.00
Recording - 35.00
MERS Registration - 11.95
Imaging fee - 17.95
USDA Guar Fee - 3,304.00
Lender Rebate - (2,890.00)
What about prepaid interest, bank attorney, buyer's attorney (I assume the attorneys are still required for new build?), state transfer taxes (not sure what applies to new build in your state), 1 year homeowner's insurance, escrows, recording charges, survey if required.
My closing costs in NY on $250k purchase were some-odd $19,000....
Some of those are not listed on my GFE, so I assume they arent required.
There are no lines on here about attorneys or state transfer taxes. Survey is not required. The recording fee is 35.00 and listed above.
Maybe its easier if I list out the whole GFE, line for line? All these numbers are starting to run together.
1. Origination Charge = 909.90
2. lender credit = 2,890.00
A. Adjusted Origination = (1,980.10)
3. appraisal = 500.00
credit report = 14.00
flood cert = 8.50
USDA guar fee = 3,304.00
tax cert = 87.00
Total = 3,913.50
4. title services = 1,247.40
5. owners title ins = 100.00
6. 0.00
7. recording charges = 35.00
8. transfer taxes = 0.00
9. initial escrow deposit = 475.02
@741051. daily interest - 4 days @ 20.37 = 81.48
11. homeowners ins = 800.00
B. total = 6,652.40
A+B = 4,672.30
Looks pretty solid.